The Commerce Ministry is studying the impact of duty hike by the United States on certain steel and aluminium products as India exports these goods worth about two billion US dollars per annum to America.
An official said, India is keeping a close watch on the development. With hike in tariffs, exports of these products to the American market will become expensive and could impact the competitiveness of domestic items.
US President Donald Trump had recently imposed heavy tariffs on imported steel and aluminium, sparking fears of a global trade war. Mr Trump signed two proclamations that levied a 25 per cent tariff on steel and a 10 per cent tariff on aluminium imported from all countries except Canada and Mexico.
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